Thursday, March 27, 2014

FDA Snuffs Out Sale of Bidis Cigarettes

The FDA has halted sales of four cigarette brands known as Sutra Bidis, marking the first use of its authority to take tobacco products off the market.
The move will end import, sale, and distribution of Jash International's thin, hand-rolled cigarette products Sutra Bidis Red, Sutra Bidis Menthol, Sutra Bidis Red Cone, and Sutra Bidis Menthol Cone.
"Historically, tobacco companies controlled which products came on and off the market without any oversight," Mitch Zeller, JD, director of the FDA's Center for Tobacco Products, said in a statement issued Friday. "But the Tobacco Control Act gave the FDA, a science-based regulatory agency, the authority to review applications and determine which new tobacco products may be sold and distributed under the law in order to protect public health."
The manufacturer failed to provide the information necessary to show its products were "substantially equivalent" to other accepted tobacco products in terms of characteristics and public health issues, according to the FDA.
The agency said it would give retailers 30 days to liquidate their inventory of previously purchased Sutra Bidis but that it would enforce the order against further sales or distribution.

Wednesday, March 12, 2014

Bulgaria's Smoking Ban Debate To Be Rekindled Again

Summary
  • Altria is a dividend champion which has managed to increase dividends to shareholders for 44 years in a row.
  • Currently, this dividend champion is attractive at 16.30 times earnings, yields 5.20%, and has a high but sustainable payout ratio. Constant threats to tobacco result in low valuation.
  • The low valuation, coupled with high yields and consistent earnings and dividend increases could result in compounding miracles for long-term investors.
Altria Group, Inc. (MO), through its subsidiaries, engages in the manufacture and sale of cigarettes, smokeless products, and wine in the United States and internationally. This dividend champion has managed to increase dividends to shareholders for 44 years in a row.
Many databases show reductions in dividend payments in 2007 and 2008, which is due to the spin-offs of Kraft Foods and Philip Morris International (PM). As a result, Altria was kicked out of what I used to believe was the elite dividend aristocrat index. The investors in Altria from early 2007 would have received shares in Kraft and Philip Morris International, and therefore their total dividend income would not have suffered at all. It actually increased, because all three companies raised dividends in 2008. Those original Kraft shares were further split into Mondelez International (MDLZ) and Kraft (KRFT). This is why one should not focus on purely quantitative characteristics, but should also take the time to understand companies by analyzing them in detail one at a time. By focusing too much on screening, you might miss out on important information.
The debate on the total smoking ban in Bulgaria would be rekindled again.

According to reports in Bulgarian-language media, several MPs are planning to table amendments for the liberalization of the restrictions on indoor smoking  by the end of this month.

Such attempts are being made every several months, only to be shot down by various committees in Parliament. The most recent attempt to lighten up the  restrictions was made in early December 2013. Back then the motion of Bulgarian Socialist Party (BSP) MP Spas Panchev was overruled by Parliament's Health Committee.

The new amendments would again be proposed by Panchev.

Meanwhile, the Health Ministry is proposing harsher punishments for the violators of the indoor smoking ban. They include higher fines and the closing of bars, restaurants and cafes where the ban is repeatedly ignored. - See more at: http://www.novinite.com/articles/158835/Bulgaria%27s+Smoking+Ban+Debate+To+Be+Rekindled+Again#sthash.WGHD6TaG.dpuf
The debate on the total smoking ban in Bulgaria would be rekindled again.

According to reports in Bulgarian-language media, several MPs are planning to table amendments for the liberalization of the restrictions on indoor smoking  by the end of this month.

Such attempts are being made every several months, only to be shot down by various committees in Parliament. The most recent attempt to lighten up the  restrictions was made in early December 2013. Back then the motion of Bulgarian Socialist Party (BSP) MP Spas Panchev was overruled by Parliament's Health Committee.

The new amendments would again be proposed by Panchev.

Meanwhile, the Health Ministry is proposing harsher punishments for the violators of the indoor smoking ban. They include higher fines and the closing of bars, restaurants and cafes where the ban is repeatedly ignored. - See more at: http://www.novinite.com/articles/158835/Bulgaria%27s+Smoking+Ban+Debate+To+Be+Rekindled+Again#sthash.WGHD6TaG.dpuf

Has the sin tax made Pinoys quit smoking? DOH can’t say yet

Has the sin tax succeeded in cutting down the number of smokers in the Philippines? The Department of Health (DOH) can't say for certain yet, more than a year after the law imposing higher taxes on tobacco products was enacted.  Lucky Strike Blue cigarettes.

On Wednesday, the DOH failed to show concrete data on the effect of the sin tax law on Filipino smokers to a congressional oversight committee assessing the effectivity of legislation.

DOH Secretary Enrique Ona told the committee that it is still "too early" to assess the law's effect.

He added that his agency, together with the National Statistics Office (NSO), still has to conduct the Global Adult Tobacco Survey within the year.

"We can be able to give you that figure probably by next year's report to the committee," Ona said.

Senator Ferdinand "Bongbong" Marcos Jr., who hails from the tobacco-producing province of Ilocos Norte, was unimpressed by the lack of data to show that the sin tax law indeed has health benefits.

"Every time we would talk about revenue, the answer I receive from the proponents of the bill is that this is a health measure. How do we determine the success or otherwise of this bill if we do not have those figures?" Marcos said.